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  • Mistake and Succesful System: Smart Money Concept - SMC

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    Ritesh Kelkar
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    1. The document discusses common mistakes in trading such as using the wrong structure, point of interest, or take profit placement. It recommends checking for pullbacks, breakouts, and IMB waves on higher timeframes. 2. An effective trading system is described as one that is suitable for the individual trader with the right timeframe, currency pairs, and number of pairs to control emotions. The system should be backtested and have risk management procedures like trailing stops. 3. A profitable system is defined as having a reward/risk ratio greater than 3, a win rate above 60%, and a drawdown less than 10%.

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    1. The document discusses common mistakes in trading such as using the wrong structure, point of interest, or take profit placement. It recommends checking for pullbacks, breakouts, and IMB waves on higher timeframes. 2. An effective trading system is described as one that is suitable for the individual trader with the right timeframe, currency pairs, and number of pairs to control emotions. The system should be backtested and have risk management procedures like trailing stops. 3. A profitable system is defined as having a reward/risk ratio greater than 3, a win rate above 60%, and a drawdown less than 10%.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    6 views4 pages

    Mistake and Succesful System: Smart Money Concept - SMC

    Uploaded by

    Ritesh Kelkar
    1. The document discusses common mistakes in trading such as using the wrong structure, point of interest, or take profit placement. It recommends checking for pullbacks, breakouts, and IMB waves on higher timeframes. 2. An effective trading system is described as one that is suitable for the individual trader with the right timeframe, currency pairs, and number of pairs to control emotions. The system should be backtested and have risk management procedures like trailing stops. 3. A profitable system is defined as having a reward/risk ratio greater than 3, a win rate above 60%, and a drawdown less than 10%.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 4

    Course 2.

    Complete Trading Course : Smart Money Concept - SMC

    Mistake and succesful system


    Course 2. Complete Trading Course : Smart Money Concept - SMC

    What you will learn

    1. Normal mistake
    2. What is successful system
    Course 2. Complete Trading Course : Smart Money Concept - SMC

    1. Normal mistake

    - Wrong structure Check pullback – break out

    - Wrong POI Check IMB wave

    - Take Profit wrong place Open HTF -> Analyze like your main TF

    Backtest 1 – 3 month
    Course 2. Complete Trading Course : Smart Money Concept - SMC

    2. What is successful system

    - Suitable for you

    • Control emotional : Right Timeframe / Right currency pairs / Right number of currency pair

    • Confident / comfortable : Backtest

    • Risk management : Trailing stop / Case we should skip

    - Profitable SMC
    - RR : 6
    • Reward / risk : > 3 times
    - RR : 65%
    • WR > 60 %

    • Drawdown < 10% Winrate to break even = 1/(1+RR) = 14.3%

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